yeah, there are some blogs that are growing, along with a few national sites like huffington post and the daily beast. but locally based, in-depth journalism - how do you make that pay? stephen shepard, he's the founding dean of the graduate school of journalism at the city university of new york. for 21 years he was editor-in-chief of business week. he began in the age of pure print and retired in 2005, during the digital encroachment. he's got a terrific memoir just out, "deadlines and disruption: my turbulent path from print to digital." stephen, i assume there is still an appetite for good journalism, but it's just that the current business model doesn't seem to fit it. > > that's exactly right. i'll give you just one statistic: in the last five or six years, newspapers have lost half of their advertising revenue. that's a whopping $25 billion, which is what accounts for the layoffs and the thinning out of newspapers and the closing of bureaus and so forth. and they're not charging online for content. so the business model has kind of collapsed, and we need a new business model. >